Full Commission on Internal Annuity Exchanges Effective 03/12/2024

Beginning March 12, all internal replacements of Palladium® Multi-Year Guarantee (MYG) 3-10 plans to a new MYG 5-10 policy within the 30-day surrender window at the end of the initial rate guarantee period, will be paid at 100% of the current commission rate.

For reference, the normal internal exchange program pays 50% of the current commission rate.

 

Current PlanNew PlanCommission
MYG 3-10MYG 350% of current commission rate
MYG 3-10MYG 5-10
100% of current commission rate
Non-MYG AnnuityAny Non-WealthQuest Annuity50% of current commission rate

 

During this limited time enhancement, you will receive your full commission rate, while providing your client with a new competitive rate and excellent customer service.

  • This change will only apply to internal replacements from a Multi-Year Guarantee (MYG) 3-10 to an MYG 5-10.
  • Only policies entering their 30-day surrender on March 12, 2024, or later, will be eligible for full commission.
  • This is not permanent and is currently offered on a limited time basis.
  • The current internal replacement process will remain the same, but allow for 100% of the current rate on these select MYG policies.
  • MYG and MYG NY policies included.
  • Requires submission through electronic application.
  • Electronic application is not required in New York to receive 100% of the commission rate.
  • Internal exchanges that qualify for 100% of the commission rate will also receive 100% production credit.